The Trend Score indicator for Metatrader 5 is a technical oscillator that measures the intensity of a trend and it provides valuable buy/sell trading signals.
The indicator gets displayed in a bottom chart window as a blue colored line that oscillates above and below the zero level.
Spotting bullish and bearish trends with this indicator:
- A bullish trend occurs when the blue indicator line turns back above zero.
- A bearish trend occurs when the blue indicator line turns back below zero.
The indicator contains the following inputs and parameters: price mode, period mode, period, line style.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Worth noting: scalpers and day traders can enhance their profit potential by utilizing the Trend Score indicator during the London and American trading hours.
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The picture below shows how the Trend Score indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Trend Score Indicator?
Find a simple trading example below:
- A buy signal is confirmed when the Trend Score indicator crosses the zero level bottom up.
- Place a protective stop loss slightly below technical support.
- Close the buy trade for a predetermined pips target of your preference, or wait for a cross back below 0.
- A sell signal is confirmed when the Trend Score indicator crosses the zero level top down.
- Place a protective stop loss slightly above technical resistance.
- Close the sell trade for a predetermined pips target of your preference, or wait for a cross back above 0.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the trendscore.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration